By William Gullotti
Buffalo, N.Y., June 21 – Citigroup Global Markets Holdings Inc. priced $10 million of contingent income autocallable securities due June 20, 2022 linked to Amazon.com, Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 10.5% if the stock closes at or above the 90% downside threshold on the determination date for that month. Previously unpaid coupons will also be paid.
The notes will be called at par plus the contingent coupon if the stock closes at or above its initial level on any determination date.
The payout at maturity will be par unless the stock finishes below its 90% downside threshold, in which case investors will receive a number of Amazon shares equal to $10,000 divided by the downside threshold level or, at the issuer’s option, an amount in cash equal to the value of those shares.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the underwriter. Morgan Stanley Wealth Management is a selected dealer.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Contingent income autocallable securities
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| Underlying stock: | Amazon.com, Inc.
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| Amount: | $10 million
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| Maturity: | June 20, 2022
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| Coupon: | 10.5% annualized, payable each month if stock closes at or above downside threshold level on determination date for that month; previously unpaid coupons will also be paid
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| Price: | Par of $10,000
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| Payout at maturity: | If stock finishes above downside threshold, par; otherwise, 3.28355 Amazon shares or, at issuer’s option, amount in cash equal to value of those shares
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| Call: | At par plus contingent coupon if stock closes at or above initial level on any determination date
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| Initial share price: | $3,383.87
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| Downside threshold: | $3,045.483; 90% of initial level
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| Pricing date: | June 15
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| Settlement date: | June 18
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| Underwriter: | Citigroup Global Markets Inc. with Morgan Stanley Wealth Management as dealer
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| Fees: | 0.2%
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| Cusip: | 17329D406
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